NORDIC STEEL MARKET
ROUNDUP FROM MEPS
Steel prices continue to be
relatively stable in the Nordic region, according to MEPS.
Competition between hot rolled coil suppliers is fierce. The
traditional spring upturn in activity has failed to materialise.
Material can be sourced more cheaply from Russia but delivery lead
times are extended.
Export opportunities of commodity plate have been boosted by
exchange rate movements. The mild winter has supported steady demand
from the construction sector. Restarting Russian and Ukrainian mills
have added to supply competition.
Demand for cold rolled coil is steady. Transaction values are
stable. The reported pickup in northern European economic activity
has not been reflected, as yet, in sales volumes. Producers would
like higher selling figures but they are reluctant to start new
contract negotiations with buyers for fear of conceding discounts.
Sales of coated coil to the automotive sector are steady. Steel
prices are stable. The producers want increases but consumption
levels do not support such a move.
Demand for rebar is fair. Producers from the Nordic region have had
to be more aggressive to retain their market share, in the face of
competition from Germany and Poland. The situation for seller in
Norway has improved, in terms of both consumption and prices. There
is strong demand from civil engineering and infrastructure projects.
This is expected to continue in the medium term.
Producers’ proposed price increases, for merchant bar, have largely
been rejected. Although there has been some variation in agreements,
overall price levels are unchanged. Demand is reasonable.
Steel Review Supplement - April Edition
Also See: MEPS
Nordic Index and MEPS Nordic
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